Answered step by step
Verified Expert Solution
Link Copied!

Question

1 Approved Answer

Time left 1:13:55 Note: round your answers to 2 decimal places. Based on market research, information diffuses through an adult population of fixed size P

image text in transcribed
image text in transcribed
Time left 1:13:55 Note: round your answers to 2 decimal places. Based on market research, information diffuses through an adult population of fixed size P at a rate that is proportional to the number of people who have yet to hear the news. Specifically, let N(t) be the number of people who have heard the news after t days, then information diffusion proceeds according to the following differential equation, dN = k(P - N(t) ) Consider the Black Monday crisis on Wall Street. On Black Monday (at t = 0), no one has heard the news yet and therefore N(0) = 0. Three days after Black Monday (t = 3) occurred, a poll showed that 77% of the population had heard about the event. What percentage of the population that will be aware of the Black Monday crisis after 2 days (t = 2)?

Step by Step Solution

There are 3 Steps involved in it

Step: 1

blur-text-image

Get Instant Access to Expert-Tailored Solutions

See step-by-step solutions with expert insights and AI powered tools for academic success

Step: 2

blur-text-image_2

Step: 3

blur-text-image_3

Ace Your Homework with AI

Get the answers you need in no time with our AI-driven, step-by-step assistance

Get Started

Recommended Textbook for

Public Administration And Law

Authors: David H Rosenbloom, Rosemary O'Leary, Joshua M Chanin

3rd Edition

1439803986, 9781439803981

More Books

Students also viewed these Economics questions

Question

=+d) State the conclusion from this analysis.

Answered: 1 week ago